SEOUL, KOREA - Hyundai Heavy Industries has won an offshore plant project worth almost US$2 billion from the United Arab Emirates. The company said on July 11 it received a letter of award from ADMA-OPCO that it was awarded a project to build four fixed offshore platforms and the job of installing 200-kilometer underwater cable at the cost of $1,938 million.

 

The project calls for building oil production facilities in the Nasr oil field, 130 kilometers northwest of Abu Dhabi as part of a program to triple oil output to 65,000 barrels a day from 22,000 bpd.

 

ADNOC is a joint venture established by BP (Britain) and Total (France), as well as the Abu Dhabi Marine Operating Company (ADNOC), the state-owned oil company of the United Arab Emirates. Of the two packages, Hyundai Heavy Industries took one package consisting of a crude oil cracking plant, a gas treatment plant, basic structures, residential quarters, and underwater cable installation for electric power supply.

 

The other package, composed of seven offshore platforms including two oil drilling platforms, will be implemented by the National Petroleum Construction Company of the United Arab Emirates. Hyundai Heavy took the project under an EPC (engineering, procurement, and construction) contract includes transport, installation, and pilot operation as well. The construction will be completed by the second half of 2019.

 

Source : The Korea Economic Daily